Franconia Minerals Corporation and Duluth Metals Limited. and

Calculations

Your Entitlement

    Franconia Minerals Corporation and Duluth Metals Limited. and

    Effective: March 7, 2011 - Sunset: March 7, 2017

    Effective March 7, 2011, Duluth acquired all of the issued and outstanding Common Shares of Franconia that it did not already own, for consideration consisting of, either: (i) CAD $0.90 in cash per common share of Franconia; (ii) 0.328 of a common share of Duluth and CAD $0.001 in cash per common share of Franconia; or (iii) a combination of (i) and (ii). Shareholders who did not complete and submit the Letter of Transmittal by the Effective Date are deemed to have elected the Cash Consideration in respect of 50% of his or her Franconia shares and the Share Consideration in respect of the remaining 50% of his or her Franconia Shares. Franconia shares shall be rounded down to the nearest whole Duluth Share and in lieu of a fractional Duluth Share, the Franconia Shareholder will receive a cash payment of CAD $2.7735. The Cash Consideration owing will be rounded up to the nearest whole cent.

    In order to exchange your Franconia shares, please complete the Letter of Transmittal and mail it to Kingsdale Advisors along with any Share Certificates that have been issued.

    Duluth Metals was acquired by Antofagasta Investment Company Limited.

    More information on filling out the Letter of Transmittal can be found here. Should you have any questions, please contact Kingsdale Advisors at the toll-free number 1-888-518-6796.


    Document Assistant

    Country of Primary Residence
    How do you hold your shares
    How will your new shares be held
    • Predecessors To Franconia Minerals Corporation
    • Predecessors To Duluth Metals Limited.